PPE trade ideas
PPE massive DT and HS patternPurple Group, one of the favorite stocks amongst the crowd investors is now hovering on crucial support.
A breakdown below 205c can see moves to 160c -140c zone
Purple group ready for longthe current retest on the support/demand zone with the doji candle signals a long. let's wait and see
Purple GroupDouble top technical pattern developing on the daily chart; which will be confirmed by a break of the 220 support/neckline area.
If confirmed I'm looking at 130c as possible 'short' target.
Purple GroupLooks like we have a failed H&S on our hands; which could trigger an 'extended' move upwards.
Purple GroupLooks like a H&S pattern developing on the daily chart, which if confirmed has a scary 100c as measured target.
But until (and unless) we lose the neckline support and the 200dma, the trend is still up!
PPE they was a huge order block that still not executed at the R2 level that is why price had to go down to collect those orders PPE will resume its bullish upside move
Purple GroupStrong reversal off the 200dma; on good volumes too.
That incline resistance (as well as 50dma) have to give in to expose the January highs.
PPE Purple Group is still trading on an uptrend and will continue to create new highs of about R4.79 to R5.00
@VillageTraderZA #PPE Still very much a strong buyPurple group is still looking bullish. Touching the Trendline support with a doji reversal candle. One with a long tail. Its a very good long term hold
Purple GroupPrice approaching previous breakout level around 250c.
RSI approaching oversold territory!
Purple GroupTechnically, a long entry is unattractive at current levels (221c).
- Currently, the monthly candle is in line with the May 2007 candle (around swing highs/resistance) and has developed a similar structure (long upper tail) suggesting selling pressure starting to emerge.
- The 7-month RSI is at it's highest level EVER, with a print of 91. This is an extreme reading. In prior years, RSI prints in this range (+80) have coincided with medium term peaks.
- Note: The share may hover around these levels or slightly higher, thus I am NOT saying the current level is the exact medium term top.
- Note: This isn't a fundamental call on the growth prospects of the business, which appears strong according to their results/market updates.
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Purple Group Limited heading for previous highsIf you missed the entry on the retracement, its not late jump on the Purple groups rally to previous highs. This move is boosted by the groups, easyequities product success. It is still expected to grow their user numbers/day traders. From trend analysis, price will reach levels which it rejected at first. Long term bullish on this stock, look for it to reach the R2.73 level.
PURPLE GROUP LOOKING STRONG !!PPE has passed our previously projected price and continued in a strong uptrend.
Reached highs of 2007 and we can expect a dip before another spike to 300.
Definitely BUY BUY BUY!
PURPLE GROUPGAME CHANGING COMPANY OWNERS OF EASY EQUITIES
STARTED my relationship with them at R 0.80 now its way above that moving +200%.
Lets get to the technical side.
We may still see the R1.44 area being re tested, hopefully
PURPLE GROUP: Bullish Flag Setup.Bullish flag formation setup. If price breaks our trendline we can expect a movement to 166 area and above.
Purple Group - Bullish pennant - uptrend - LongPurple Group's share price has been consolidating for a few weeks now, and seems to be forming an ascending triangle - higher lows.
Its has also formed a bullish pennant. This is the perfect time to be accumulating before it moves higher.
I expect the stock to break out of the trading range within the next two weeks.
R1.40s - accumulate
1st support line is at R1.35
2nd support line is at R1.28
Even at these lower levels, buyers will step in to accumulate.
This is an opportunity to accumulate before it pushes higher - exactly what i'll be doing.
Bullish Flag on Purple GroupJSE:PPE had a nice upward rally at the beginning of June followed by a slightly downward consolidation period. Because of these moves, we have seen the formation of a bullish flag pattern. A bullish flag is a continuation pattern, therefore the expectation is that the price will continue upwards once the breakout has happened. So far this morning a breakout has occurred, but I may be inclined to wait until Monday before entering a long position. If you take the length of the "flagpole" into account the target for this trade should be around 190.
